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Welcome, friends, to Economic Update Extra. This is where we continue either the interview or the discussion and analysis of the regular program for you, our Patreon supporters and followers. It is for you that we continue these conversations to be able to elaborate some of the points there a bit further, especially because it's often an important kind of punchline to the story developed on the program itself. And so it is today. I want to continue the conversation by pointing out that the destruction of a left presence in American culture, unions in the workplace, critics of capitalism, our system in places where they can develop their thinking, teach it to other people, make it available for folks to decide whether they are or are not persuaded by killing all that off, you created the kind of feeling in America that criticism of capitalism was sort of like communism, socialism, evil, bad, to be avoided, to be paid no attention to, to be kept away. And so it was, and so it was for the last half century. And what it meant was we didn't develop critical thinking. We allowed the capitalism we live in to be free of critics, nobody to find fault, or at least nobody to say so in a clear, loud and persuasive way that enabled the system to indulge its worst features because it didn't have the risk of having them pointed out. Did the inequality get worse and worse decade by decade since the 1960s? Yes. But most of the time nobody said anything about it. And even if they did, to link it to capitalism as being a system that works that way, that would have been taboo, dangerous to your career if you were a teacher, dangerous to your career if you were an activist in a labor movement or a Labor Union, every, etc. And what that meant was when the next crash of capitalism happened. And by the way, we've had several. But the next big one, 2008, what we had was no left, no Communist Party to speak of, a shadow of itself, no socialist parties, shadows of themselves, and not much left of a labor movement. And so there was no pressure on these politicians, not on George Bush, not on Barack Obama, not on Donald Trump, to do anything for the mass of people other than lots of press opportunity, a lot of photo ops, a lot of promises, but very little delivery, which is why Americans are as agitated and angry. The same thing happened in a number of other countries, which is why they're working. Working people are agitated and angry. Everyone understands that the evisceration of the left after World War II removed the awareness, the thinking, the organizations that could have insisted that when capitalism collapsed and failed us all again after 2008, there would be the recognition that you need to do something for people the way it was done in the 1930s. But those people had been repressed, that way of thinking had been repressed. And so there was no upsurge. And so Bush and Obama and Trump are free to pay off the big businesses with tax cuts and stimulus programs and talk endlessly about how helping those at the top will inevitably trickle down to the rest of us while we all wait, wait, where is the trickle? And when a little comes down, it's a very little trickle to boot. Well, that's the power of a political purge, which is what we had. We're just now coming out from under it. And you know why? In the aftermath of the crash of 2008, the American people, like working classes everywhere, sense that they're getting a raw deal, sense that there's no balance here, that everything being done helps the very businesses that brought us the crisis. Who got bailed out the most after 2008? The banks. And who was it who brought us the financial crisis? You guessed it, the banks. Hint. People sense that there's something missing, that the cozy club of big business, big banks, leaders of Republican and Democratic Party is. But they don't know where to turn. So where do people turn? They're not going to turn to the left because we destroyed the left after World War II. There's no place to turn to, no awareness of those ways of thinking and acting. What we are aware of in our upset state at what's been done to us is the right wing, because it wasn't repressed, it was allowed to flourish. So why are we surprised that agitated working people around the world go to the right, follow a crazy idea in England, cut yourself off from Europe and that will magically solve your problems? The Brexit story? Or to decide that a billionaire weirdo like Trump is going to lead you out of the wilderness you, you have allowed yourself to be plunged into, or what the Italian governments are doing, and so forth and so on. We are reaping the whirlwind of repressing a critical basic part of our culture, of our identity, and of a healthy society which welcomes criticism. Because that's how you find your flaws and that's how you begin to do better than that. And if you don't, you think you're succeeding. You're not. You're plunging the society you claim to love into a process of decline and decay. And the American people know it. They just don't know quite where and how to go with it. And hence this program. Part of our problem is to recover and rebuild what was purged and destroyed after World War II. The country needs it, a way out of our declining capitalism in the United States needs it, and a healthy society cannot do without it. Thank you again to our Patreon community for your support and your interest, and we'll be back with you again next week.
